Austin financial software maker raises equity financing

Mar 11, 2014
Austin Business Journal

Software maker ProspX Inc. reported raising $1.8 million of a planned $2.3 million financing

The Austin-based company collected the capital from 21 investors, according to a Monday filing with the U.S. Securities and Exchange Commission

ProspX, founded in 2005, develops software designed to enable commercial insurance agents, brokers and carriers to communicate. The company, which employed 59 workers in 2011, operates in Austin, Chicago and the Ukraine

In January, ProspX completed a $1.2 million round of debt funding from 10 investors. In May 2013, it raised $8.2 million of a planned $9.2 million funding from 39 investors. An earlier funding round in 2011 included investors such as Pittsburgh-based Adams Capital Management and Austin-based HPI Real Estate Services and Investments Inc.

Last year, ProspX hired former American International Group Inc. (NYSE: AIG) executive Steve Gold as its new CEO

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